Have you ever thought about what would happen if you were to get into an accident? Accidental or unintentional injury deaths are ranked at the 4th place among the most common causes of death worldwide.
Accidents can happen at any time, whether it’s a minor injury or something more severe, and the consequences can be costly. That’s where personal accidental insurance comes in. By the end of this post, you’ll better understand why an accident insurance policy is crucial and how it can provide you with peace of mind in the event of an unexpected incident.
Importance of Accidental Insurance Coverage
Personal accident insurance is a type of insurance policy that covers individuals against accidents resulting in injury, disability, or death. Therefore, covering personal accidental insurance is crucial for everyone, regardless of age, profession, or lifestyle.
Here are nine reasons why you need personal accident insurance:
1. Provides Financial Security
An accident insurance policy provides financial security to you and your family in case of accidental death, permanent disability, or temporary disability. The policy pays a lump sum amount that can help you cover medical expenses, rehabilitation costs, and other financial obligations.
2. Covers Accidental Death
In case of accidental death, your personal accident insurance cover pays a pre-decided amount to your nominee. This payout can cover funeral expenses and outstanding debts and provide financial support to your family members in your absence. It can help your family cope with financial loss and maintain their standard of living.
3. Covers Disability
Accidents can result in permanent or temporary disability, affecting your earning capacity. An accident insurance coverage covers both types of disabilities and provides an amount to help you manage your finances. Disability coverage can provide a lump sum payout or a regular income to help cover the lost income and support you and your family.
4. Covers Medical Expenses
Accidents can result in hospitalisation and other medical expenses, which can be quite expensive. An accident insurance coverage covers these expenses and financially supports you and your family. This can include inpatient and outpatient hospitalisation expenses, medical consultation fees, diagnostic tests, physical therapy, occupational therapy, and other specialised medical care to aid in your recovery.
5. No Health Checkup Required
Unlike other insurance policies, accident insurance does not require you to undergo any health checkup. This makes it easier for you to buy the policy and get coverage. This feature is particularly beneficial for people with pre-existing medical conditions or a history of health issues.
6. Offers income protection
Accident Insurance provides income protection in case of temporary disability caused due to an accident. It provides a weekly or monthly benefit to compensate for the loss of income. The income protection you receive will depend on the coverage amount you choose when you sign up for the personal accident insurance coverage. Income protection can help you cover your living expenses and maintain your standard of living while you recover from your injuries.
7. No Age Restriction
A personal accident cover is not limited by age, meaning people of all ages can take advantage of the coverage. Whether young or old, the policy will protect you in case of an unexpected injury. It is important for you because accidents can happen to anyone, regardless of their age, and it’s important to have coverage in case of an unexpected event.
8. Affordable Premiums
Accident insurance policies are quite affordable, and the premiums depend on the coverage amount and other factors. You can choose accident insurance that fits your budget and provides adequate coverage. Affordable premiums also enable individuals with limited financial resources to obtain accident insurance coverage, guaranteeing financial stability and predictability.
9. Peace of Mind
Accidents can cause a lot of stress and anxiety, both for you and your family. Having an accident insurance coverage gives you peace of mind, knowing that you are financially protected in case of an accident. It can include coverage for medical expenses, hospitalisation, and other related expenses. It allows you to focus on your recovery and rehabilitation without worrying about the financial burden of medical bills or loss of income.
Accidents can happen to anyone, anywhere, and at any time. Having a best health insurance plan provides financial protection, covers medical expenses, and provides peace of mind. It is an affordable way to ensure that you and your family are financially secure in case of an accident.
If you are looking for reliable accident insurance, Niva Bupa Health Insurance offers comprehensive accident insurance policies that cover you and your family at an affordable premium. Contact Niva Bupa Health Insurance to learn more about their accident insurance policies.